Quick overview

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Warren Buffett’s holding company, Berkshire Hathaway, sharply reduced its exposure to major tech stocks, including a significant cut to its position in Amazon.

In one of his final moves at the helm, Buffett surprised markets by slashing Berkshire’s stake in Amazon by roughly 77%. According to regulatory filings, the firm sold more than 7 million shares, worth approximately $1.8 billion.

The decision came in the fourth quarter of 2025—the last under Buffett’s direct leadership as CEO. During that period, Berkshire broadly trimmed its exposure to large technology companies, including adjustments to Apple and other holdings.

The Amazon reduction brought Berkshire’s position down from around 10 million shares to just over 2 million, marking one of the most significant portfolio exits in recent quarters.

Why Buffett cut Amazon

Although Amazon was a relatively late addition to Berkshire’s portfolio—initiated in 2019—the move does not necessarily signal a negative view on the business. Instead, it reflects valuation discipline and a broader portfolio rebalancing in a demanding market environment.

At the same time, Berkshire initiated a new position in The New York Times Company, acquiring more than 5 million shares for roughly $350 million.

The shift reflects a “classic” Buffett approach: favoring businesses with stable revenues, strong brands, and subscription-based models. The New York Times fits that profile, with steady growth in digital subscribers and improving revenue trends.

The investment has already delivered short-term gains, with the stock rising meaningfully after Berkshire’s entry.

More broadly, the rotation away from Amazon highlights Buffett’s late-stage focus on understandable businesses with clear competitive advantages—while reducing exposure to companies more dependent on large-scale technological bets and heavy investment cycles.